Assume a perfectly competitive firm is producing 500 units of output, P = $7, ATC of the 500th unit is $6, marginal cost of the 500th unit = $7, and AVC of the 500th unit = $5. Based on this information, the firm is:
A) earning an economic profit of $500.
B) earning an economic profit of $1,000.
C) incurring a loss of $500.
D) incurring a loss of $1,000.
A
Economics
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A swap contract __________ be resold, which is particularly important for the __________ in swaps
A) can; speculator B) can; hedger C) cannot; speculator D) cannot; hedger
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Refer to the table shown.BotswanaZimbabweGoldNickelGoldNickel030009060200186012010036301800540Botswana's opportunity cost of producing nickel (in terms of gold) is:
A. 60. B. 3/5. C. 5/3. D. 100.
Economics